Redhawk Wealth Advisors Inc. Purchases New Holdings in Futu Holdings Limited Sponsored ADR $FUTU

Redhawk Wealth Advisors Inc. purchased a new stake in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 7,877 shares of the company’s stock, valued at approximately $974,000.

Several other hedge funds also recently added to or reduced their stakes in FUTU. Ameriprise Financial Inc. grew its holdings in Futu by 200.5% during the 4th quarter. Ameriprise Financial Inc. now owns 19,689 shares of the company’s stock valued at $1,579,000 after purchasing an additional 13,136 shares during the last quarter. Cetera Investment Advisers bought a new position in Futu during the 4th quarter valued at about $268,000. Janus Henderson Group PLC grew its holdings in Futu by 147.6% during the 4th quarter. Janus Henderson Group PLC now owns 5,200 shares of the company’s stock valued at $416,000 after purchasing an additional 3,100 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Futu by 77.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company’s stock valued at $36,000 after purchasing an additional 197 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in Futu by 9.9% during the 4th quarter. Nuveen Asset Management LLC now owns 146,811 shares of the company’s stock valued at $11,743,000 after purchasing an additional 13,191 shares during the last quarter.

Futu Stock Down 0.6%

NASDAQ:FUTU opened at $173.92 on Friday. Futu Holdings Limited Sponsored ADR has a 52 week low of $62.20 and a 52 week high of $199.86. The firm has a 50 day moving average of $170.46 and a 200 day moving average of $128.07. The stock has a market capitalization of $24.20 billion, a price-to-earnings ratio of 24.12, a PEG ratio of 0.78 and a beta of 0.57.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Bank of America boosted their price objective on shares of Futu from $172.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 21st. Daiwa Capital Markets assumed coverage on shares of Futu in a research report on Monday, August 11th. They issued a “buy” rating and a $190.00 price objective for the company. Citigroup boosted their price objective on shares of Futu from $176.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, August 21st. Daiwa America raised shares of Futu to a “strong-buy” rating in a research report on Tuesday, August 12th. Finally, Barclays boosted their price objective on shares of Futu from $176.00 to $232.00 and gave the company an “overweight” rating in a research report on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $190.43.

Futu Profile

Futu Holdings Limited provides digitalized securities brokerage and wealth management product distribution service in Hong Kong and internationally. It offers online financial services, including securities and derivative trades brokerage, margin financing and fund distribution services through its Futubull and Moomoo digital platforms.